NexPoint Residential Trust (NYSE:NXRT) Reaches New 1-Year High at $45.32

NexPoint Residential Trust, Inc. (NYSE:NXRT) shares hit a new 52-week high during trading on Friday . The stock traded as high as $45.32 and last traded at $45.25, with a volume of 6407 shares trading hands. The stock had previously closed at $44.35.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NXRT. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $38.00 target price on shares of NexPoint Residential Trust in a research note on Tuesday, June 11th. Compass Point raised their target price on NexPoint Residential Trust from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday. Raymond James upgraded NexPoint Residential Trust from an “underperform” rating to a “market perform” rating in a research note on Friday, May 24th. Finally, Truist Financial raised their target price on NexPoint Residential Trust from $34.00 to $37.00 and gave the company a “hold” rating in a research note on Monday, June 24th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $41.20.

NexPoint Residential Trust Price Performance

The company has a current ratio of 2.00, a quick ratio of 2.66 and a debt-to-equity ratio of 2.96. The company has a market cap of $1.16 billion, a P/E ratio of 15.69, a PEG ratio of 1.29 and a beta of 1.35. The business’s fifty day moving average is $39.12 and its 200 day moving average is $34.45.

NexPoint Residential Trust (NYSE:NXRT) last posted its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.29). The company had revenue of $64.24 million during the quarter, compared to the consensus estimate of $64.99 million. NexPoint Residential Trust had a return on equity of 17.69% and a net margin of 32.93%. During the same period last year, the firm posted $0.88 EPS. As a group, sell-side analysts anticipate that NexPoint Residential Trust, Inc. will post 2.86 EPS for the current year.

NexPoint Residential Trust Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a $0.462 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 4.10%. NexPoint Residential Trust’s dividend payout ratio (DPR) is presently 65.37%.

Insider Buying and Selling

In related news, insider Brian Mitts sold 2,000 shares of NexPoint Residential Trust stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $39.40, for a total value of $78,800.00. Following the completion of the transaction, the insider now directly owns 65,696 shares in the company, valued at approximately $2,588,422.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 12.96% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. SRS Capital Advisors Inc. grew its holdings in NexPoint Residential Trust by 176.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 903 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 576 shares during the last quarter. Signaturefd LLC grew its holdings in NexPoint Residential Trust by 238.4% in the 2nd quarter. Signaturefd LLC now owns 1,039 shares of the financial services provider’s stock worth $41,000 after acquiring an additional 732 shares during the last quarter. Van ECK Associates Corp grew its holdings in NexPoint Residential Trust by 19.7% in the 4th quarter. Van ECK Associates Corp now owns 3,163 shares of the financial services provider’s stock worth $109,000 after acquiring an additional 520 shares during the last quarter. Quest Partners LLC bought a new stake in NexPoint Residential Trust in the 4th quarter worth $140,000. Finally, Price T Rowe Associates Inc. MD bought a new stake in NexPoint Residential Trust in the 1st quarter worth $212,000. 76.61% of the stock is currently owned by hedge funds and other institutional investors.

About NexPoint Residential Trust

NexPoint Residential Trust is a publicly traded REIT, with its shares listed on the New York Stock Exchange under the symbol "NXRT," primarily focused on acquiring, owning and operating well-located middle-income multifamily properties with "value-add" potential in large cities and suburban submarkets of large cities, primarily in the Southeastern and Southwestern United States.